Fox Run Management L.L.C. Invests $2.02 Million in Granite Construction Incorporated $GVA

Fox Run Management L.L.C. purchased a new position in Granite Construction Incorporated (NYSE:GVA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,390 shares of the construction company’s stock, valued at approximately $2,016,000. Granite Construction comprises 0.3% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 29th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in GVA. Ethic Inc. increased its position in Granite Construction by 4.6% in the third quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock worth $257,000 after buying an additional 104 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Granite Construction by 7.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,642 shares of the construction company’s stock worth $154,000 after acquiring an additional 111 shares during the last quarter. Callan Family Office LLC grew its position in shares of Granite Construction by 4.4% during the third quarter. Callan Family Office LLC now owns 2,774 shares of the construction company’s stock worth $304,000 after acquiring an additional 118 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Granite Construction by 4.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after acquiring an additional 120 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Granite Construction by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock valued at $1,172,000 after purchasing an additional 140 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $136.24 on Wednesday. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 37.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.22 and a quick ratio of 1.13. Granite Construction Incorporated has a 12 month low of $69.08 and a 12 month high of $136.97. The stock’s 50 day moving average price is $123.11 and its 200 day moving average price is $112.72.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, February 12th. The construction company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Granite Construction had a return on equity of 24.10% and a net margin of 4.36%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.13 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s payout ratio is 14.21%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. DA Davidson boosted their price objective on Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Zacks Research upgraded Granite Construction from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen downgraded Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.50.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.